HISTORY AND CHARACTERISTICS OF THE COMPANY MINERFIN, Inc.

The company MINERFIN, Inc. was founded on 31 August 1995. At the time of its foundation, the principal business activities of the company were export of ferroalloys and refractories from Slovakia to the neighbouring countries (the Czech Republic, Ukraine), business with the Polish energy and coking coal and import of steel sheets, particularly from Ukraine. The company has expanded its business activities also to Ukraine which led to establishment of “The Joint Venture ZŽRK” with the National Property Fund of Ukraine in 1996, last year renamed to “ZŽRK”. This company concentrates mainly on the iron ore mining. At its establishment, our company has acquired 36 per cent of shares and within a few years it became the majority shareholder.

Since 1998 the main commodity in the business activities of the company MINERFIN has been the iron ore coming from ZŽRK through which the company succeeded in establishing itself at the Central and Eastern European markets.  The iron ore, the strategic raw material for the metallurgical industry, was exported from the Ukraine to the Slovak market and the markets of the neighbouring countries such as the Czech Republic, Poland, Hungary and countries of the former Yugoslavia.

In order to improve the quality of the sales, the Board of Directors of the company decided to build and develop the quality management system in accordance with the model and requirements of the international standard ISO 9001 : 2008, which is a significant support of the complexity and systematic character in creation of the internal corporate identity. In 2004, the company obtained the certificate of the quality management system and it regularly undergoes assessment audit and every three years re-certification audit, which confirms that the quality management system has been built and maintained efficiently.

Another strategic step of the company MINERFIN was the purchase of the majority shares in the transport company EX IM TRANS in Ukraine in 2006 and subsequently strengthening of its capital.

In 2012, the company decided to expand its portfolio of subsidiaries. It resulted in acquisition of 100% of shares of the company Barrandov Lands in the Czech Republic and the majority shares in the Ukrainian transport company. The latter was renamed to MINERFIN-TRANS and subsequently its capital was strengthened by increase of the basic capital.

In 2013, the company extended the portfolio of other long-term investments by acquiring the minority shares of the company Finitrading in the Czech Republic.

The company recorded the principal breakthrough in terms of reporting in 2013. In the last two years, the company has fulfilled the criteria prescribed by law which obliges to prepare individual financial statements in accordance with the international standards IFRS.

Currently, MINERFIN provides import of various types of the iron ore for important metallurgical companies such as ArcelorMittal, U. S. Steel Košice, s.r.o., Třinecké železárny, Voestalpine in the following countries: the Czech Republic, Poland, Serbia and Austria. In addition to this main commodity, the company is engaged in business with other strategic raw materials (energy coal, coke, iron scrap) as well as with metallurgical material (sheets, coils).

MINERFIN not only wants to maintain its market its market position, its ambition is also to carry on growing and to meet the demanding targets set by its shareholders.  The main pillar of the company are its employees, which are an inseparable part of the client-oriented management. Quality and professional approach to clients are a priority of our company in its activities and it is positively reflected in repeated and long-term cooperation with our business partners.